News Summary
Editorially Reviewed.
- On Sunday, gold price dropped by NPR 12,500 per tola, reaching NPR 282,000.
- Gold price has declined by NPR 27,400 over the course of one week.
- Silver price also fell by NPR 355 per tola to NPR 4,540 on Sunday.
8 Chaitra, Kathmandu – On Sunday, the price of gold dropped by NPR 12,500 per tola in a single day. The Nepal Gold and Silver Traders Federation set the gold price at NPR 282,000 per tola on Sunday.
The previous day, gold was traded at NPR 294,500 per tola. Over the span of one week, the price of gold has fallen by NPR 27,400.
Last Sunday, gold traded at NPR 309,400 per tola. On Magh 15, the gold price had reached an all-time high of NPR 339,300 per tola.
Following the rise in oil prices, various countries have been required to increase the purchase of US dollars, which in turn increased demand for the dollar and caused a decline in gold prices, according to international media reports.
The increase in oil prices on the international market has also pressured global interest rates to rise, which has exerted downward pressure on the prices of gold and silver.
On Sunday, the price of silver also decreased by NPR 355 per tola. The previous day, silver traded at NPR 4,895 per tola, falling to NPR 4,540 on Sunday.
Within one week, the price of silver has dropped by NPR 730. Last Sunday, silver was traded at NPR 5,270 per tola. On Magh 15, silver reached a record high price of NPR 7,505 per tola.
